10.4 A Complete System

[Aus67]

Attached is the CADJPY

I am thinking that it maybe getting setup for a sell at the pivot.

given that it is coming off some major resistance on the bigger timeframes and off a trading channel on the 4hour.

Any thoughts or opinions ?

[sk29]

Thank you so much, fx8000!

Hi Allison.

I noticed that you are using something called trade sim v 2.0. Could you please explain what this is and where I can get this? The website listed next to it does not work. I'm interested in a good testing / simulator software to practice 10.4 trades (in addition to forward tests). Any advice on this?

Thanks,
SK

I want to also show what i am starting to call my Friday trade runs. Area 6 is showing a double top and Friday rolls in. I also had a winning trade there when it was at area 2. I have been placing a trade Sell limit at that double top and setting up pendings on the next two lines below creating a 3 level trade. Price drops like a rock for those last 12 hours and I get a 3 level trade. By playing those highs and previous R levels I have a very low risk high reward trade. It doesnt go south I have a small SL, if it does I reenter 1 to 2 more times and close out the trade at the end of the Euro session. USD/JPY is not moving much so I probably am ignoring this pair at that time but that is how 10.4 is designed to work.

The trade setup you are showing is on a Monday, area 7, I wouldnt be expecting much of a move on that trade anyway.

yes very informative thank you !

the lot sizes are based on my simulator backtest with 10k in the account.. it sets it automatically..

can you explain SL's .. i don't seem to have a very good grasp on it

Try this trade simulator. Quite easy to use. Just follow the setup instructions in the PDF. You can practice trading when the market is closed.

The download of the LFH zip file has been moved to the "UTILITIES" location

http://www.stevehopwoodforex.com/phpBB3 ... =47&t=1564

[DocT]

It is also very close to strong resistance. That would keep me out of a pending orde

Agreed - a strong level so wait till clear direction

[nanningbob]

I have the Cad/JPY set up also. Mine looks like this. If you go to the info screen JPY is the 2nd strongest currency and Cad is the 2nd weakest currency so that is a good set up.

[nanningbob]

The USD/CAD signaled earlier with the info screen showing USD strongest currencyh and Cad 2nd poorest. So setting up my trade for the USA open.

[nanningbob]

GBP/JPY gbp is listed as the weakest currency versus 2nd strongest JPY.

[nanningbob]

Aud/Cad 3rd strongest but not that strong versus the 2nd weakest. Could be a nice bounce off of the 240 line. If it doesnt then no harm. Low risk some reward. Blue line on screen shows consistent support or resistance in this area. I marked the areas in grey.

[DocT]

I have the Cad/JPY set up also. Mine looks like this. If you go to the info screen JPY is the 2nd strongest currency and Cad is the 2nd weakest currency so that is a good set up.

I have this, although had three levels so cut back in line with NBs TP - thanks for that
I also have AUDCAD - although not a genuine 10.4 trade as not got first entry at weekly pivot, but PA currrently on strong D S/R line and S/L at Weekly Sup 1.

[nanningbob]

GBP/JPY gbp is listed as the weakest currency versus 2nd strongest JPY.

Eur/JPY looks good also. see if we have any price movement today. I will take my profits 3-4 hours into the USA session.

For some of you guys that have not read my TP times. The best time to TP is 2-3 hours into the JPY session 3-4 hours into the Euro and USD sessions. That is usually when price will peak before a retrace. If you are sitting at a S/R point during those times that is when I take em.

[DocT]

The USD/CAD signaled earlier with the info screen showing USD strongest currencyh and Cad 2nd poorest. So setting up my trade for the USA open.

NB - my issue with this one is the strong S/R line around 1.03059 and for me therre is no RSI signal yet. I may play a bounce off the weekly pivot for a push up through S/R later in the day/week.